The Owner’s Monthly Review.

1. Are these accounts in USALI format, and has anything been reclassified since last month?A reclassified line can make a cost disappear from one department and reappear in another.
2. What was our RevPAR index against the competitive set, and did occupancy or rate move it?Fair share is the first test. The lever tells you what kind of share it is.
3. How much of the revenue variance is rate, how much is volume, and how much is mix?One number explains nothing. Three causes can be managed separately.
4. What was flow-through, or flex, against last year and against budget?It is the clearest single measure of management quality.
5. Which three cost lines grew faster than revenue, and why?Costs that outrun revenue rarely return on their own.
6. What did each segment and channel contribute after commission and acquisition cost?Revenue that costs 25 percent to win is worth less than it looks.
7. What is on the books for the next 90 days, against the same time last year?Pace is the only part of the future you can already see.
8. What is the full-year forecast now, and what changed since last month?A forecast that never moves is a budget. One that always falls is a warning.
9. How did payroll move: headcount, hours, and productivity per occupied room or cover?Payroll is the largest controllable cost in the building.
10. What are guests saying, and what was done about the three most frequent complaints?Reputation becomes rate within a season.
11. What was spent from the FF&E reserve and the capital plan, and was it approved?Capital spent without approval is the owner’s money leaving quietly.
12. Are we in compliance with the management agreement, our licences and our loan covenants?The performance test should be tracked every month, long before it matters.

The meeting sits inside the monthly rhythm. The figures can be checked on the Owner’s Desk.